The Chinese start-up Kuaishou is considering an IPO in the United States. The company has an app on which short videos can be placed and wants to grow further, insiders told the Bloomberg news agency.
Kuaishou, supported by internet giant Tencent, plans to compete more strongly with TikTok owner ByteDance. ByteDance is relatively unknown, but his TikTok app is also very popular in United Kingdom. There, users can make short music videos.
The now 8 year old Kuaishou is therefore an important part of Tencent’s fight against ByteDance, which is currently the highest-rated start-up in the world. It means “quick hand” in Chinese and quickly it has became very popular in the smaller cities and rural areas of China. Among other things, users can share short video clips, from harvesting corn to swallowing noodles. At the end of 2017 it had 110 million daily users.
The listing of Kuaishou should probably take place next year. Kuaishou was valued at $ 25 billion in a final round of financing, which is said to have largely come from Tencent’s wallet. Both Tencent and Kuaishou did not comment.